Issuer:
|
Bank of America Corporation | |
Security:
|
Depositary Shares, each representing a 1/25th interest in a share of Bank of America Corporation Fixed-to-Floating Rate Non-Cumulative Preferred Stock, Series K | |
Expected Ratings:
|
Aa3 (Moody’s) / A+ (S&P) / AA- (Fitch) | |
Size:
|
6,000,000 Depositary Shares | |
Maturity:
|
Perpetual | |
Day Count:
|
From January 30, 2008 to, but excluding, January 30, 2018, 30/360 and thereafter Actual/360 | |
Trade Date:
|
January 24, 2008 | |
Settlement Date:
|
January 30, 2008 (DTC) | |
Dividend Rate (Non-Cumulative):
|
From January 30, 2008 to, but excluding, January 30, 2018, 8.00% and thereafter Three-Month LIBOR plus 3.63%. | |
Dividend Payment Dates:
|
Beginning July 30, 2008, each January 30 and July 30 to, but excluding, January 30, 2018 and thereafter each January 30, April 30, July 30, and October 30. | |
Optional Redemption:
|
On any Dividend Payment Date on or after January 30, 2018 (subject to limitations described in the prospectus supplement dated January 24, 2008). |
Public Offering Price:
|
$1,000 per depositary share | |
Lead Manager:
|
Banc of America Securities LLC | |
Senior Co-Managers:
|
Morgan Stanley & Co. Incorporated UBS Securities LLC |
|
Junior Co-Managers:
|
Loop Capital Markets, LLC The Williams Capital Group, L.P. |
|
CUSIP for the Depositary Shares:
|
060505 DR2 | |
Simultaneous
Offerings:
|
On January 24, 2008, the Issuer also priced approximately 6,000,000 shares of the Issuer’s 7.25% Non-Cumulative Perpetual Convertible Preferred Stock, Series L with an aggregate liquidation amount of approximately $6,000,000,000. |